WEMA Bank Staff, Shibawells M.D Arraigned Over N1,7bn Fraud

WEMA Bank Staff, Shibawells M.D Arraigned Over N1,7bn Fraud

Aruga Joe Omokaro

WEMA Bank Staff Kingsley Ananwede and Isaac Adewole Managing Director of Shibahwells Energy Limited, have been arraigned before Ogba Magistrate Court Lagos over N1.7bikkiin fraud

The SUPREME gathered that, Isaac Adewole obtained original documents of the house Mr Timi Popola to enable Isaac secure several loans to finance his company project of supplying
Aviation fuel to companies.

Isaac had a joint venture with one Star Orient Nigeria Limited represented by Mr Olarinwaju Bamgbos

The account of Shibawells is in WEMA owned by Isaac.

The Shabwells had a joint venture with Star Orient Isaac Adewole’s company.

Police detectives searched Bamgbise”s House and a folder of documents with statements of accounts of Shibawellls domiciled with Wena bank.

The statement of account revealed that there were fraudulent transactions bothering on money laundering carried out through the account.

Police detectives also discovered that, there were cash movements in and out from the account purported payments by various companies

Evidence discovered by detectives showed that, account Nos 0122367964 & 0122554405 belonging to Shibawells were used to receive payments from purported companies. They include Beam Energy that purportedly paid N630 million on 28/01/21. On the same date, one Cavarton Helicopters also purportedly paid N424,812,000 million
In the same vein, Dana Air purportedly paid N160milkiin into the same account.
On 28th of June 2021 the sum of N300milkiin was paid by unknown person
Again another N270millikn was purportedly paid by one Morifol Oil and Gas.

Police detectives at Area G Police Command, Ogba l, Lagos were said to have extended their investigations to the companies to authenticate the alleged payments.

Shockingly, police discovered that, none of the companies made payments of the specified amounts to WEMA Bank on behalf Shibawells

All the mentioned companies were said to have officially denied in writing doing any business with Shibawells in which the specified amounts were paid to Shibawells accounts with WEMA bank. .

The account officer of Shibawellks with WEMA bank Kingsley was interrogated by detectives over his role in the fraudulent payments and withdrawals.

Police investigations further showed that Kingsley worked in concert with Shibawells Managing Dirdctir, Isaac to carry out the fraudulent transactions.

We reliably learnt that Bank officials made overtures with cash in a Ghana-Must-Go bag running into millions of Naira to the head of the police team, Supol Jonathan Egwemi to drop the base but the officer rejected the offer and arrested the bank officials and detailed them, and subsequently arraigned them in court.

We further learnt that, the Executive Director of the bank, Mr. Wole Akinkeye was questioned by police detectives.
He was said to have earlier made overtures to the area Commander, who was Assistant Commissioner of Police now promoted to the rank of Deputy Commissioner of Police, DCP Ibrahim Zungura who was said to have refused to compromise.

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